Our Staff Reporter

KARACHI

The stocks on Tuesday closed bullish led by banking and cement sector scrips on strong earnings outlook. The PSX index was up on the back of banks & cements to close at 31960.61 points, gaining 82.64 points, up by 0.26pc.

Traded volume increased by 7.5pc to 144.3mn shares, while traded value increased 6pc to Rs8.58bn/US$81.7mn.

Banks continued their momentum today from yesterday to close in green. BAFL, HBL & UBL closed up by 4.03pc, 2.73pc & 1.34pc respectively, stated analysts at major brokerage.

Oil scripts were in pressure today due to decline in international oil prices which resulted in POL, PPL & OGDC losing 2.26pc, 2.73pc & 2.67pc respectively.

Rising banking spreads and upbeat financial results in cement and banking sector played a catalyst role in bullish activity at PSX despite sharp fall in WTI crude prices and weak global equities, said analyst Ahsan Mehanti.

Major activity witnessed in the stocks of Fauji Cement, B.O Punjab and Jah. Sidd. Co with traded volumes of 12.2 mn shares, 10mn and 8 mn shares respectively. Total 342 active companies participated in the session, of which 164 finished in green, 161 in red while 17 went unchanged.